The Banking Association South Africa (The Banking Association), on behalf of all member banks, unequivocally condemns the xenophobic attacks carried out on people from different countries on the African continent and some Asian countries.

South Africa prides itself on standing at the forefront of promoting Africa as a continent of opportunity, a continent that is ready to receive private sector investment and promote African unity and collaboration. These are all critical to the continent achieving its potential and promoting the role emerging economies such as ours should be playing in global affairs.

South Africa has made significant progress in developing its economy and offers opportunities to citizens from all over the world to contribute to that growth. We need skills and investment to contribute to inclusive growth that benefits our population. Foreign investment and skills from different parts of the world are critical contributors to this. The xenophobic tendencies displayed currently inhibit both the attraction of skills and investment.

The vast majority of people who choose to make South Africa their home, particularly those from Africa and Asia, are productive people who often create small businesses, employ South Africans and introduce innovative business practices that add value to the overall development of enterprise in South Africa.

The South African banking sector condemns the attacks on foreign nationals.